Belagroprombank in cooperation with EBRD provides additional opportunities to support Belarusian exporters

On February 13, 2018 JSC Belagroprombank and the European Bank for Reconstruction and Development (EBRD) signed the Confirming Bank Agreement within EBRD’s Trade Facilitation Programme (TFP). In accordance with the Agreement JSC Belagroprombank has been granted the status of the Confirming Bank and thus joined more than 800 Confirming Banks worldwide.

Joining the TFP by JSC Belagroprombank gives substantial advantages for Belarusian exporters amongst which growth of geographic expansion, mitigation of foreign trade risks as well as cost reduction when confirming letters of credit.

For reference: European Bank for Reconstruction and Development is an international financial organization with the headquarters in London. EBRD was established aiming to support the economic transformation of Central and Eastern European states and started its operations in 1991. The EBRD’s shareholders are 67 countries as well as the European Union and the European Investment Bank. The EBRD operates in more than 37 countries in regions that extend from Central Europe to Central Asia as well as in countries of the Southern and Eastern Mediterranean, on West Bank of the Jordan River and in Gaza Strip.

The TFP aims to promote foreign trade to, from and amongst the EBRD countries of operations. Through the programme the EBRD provides guarantees to international confirming banks taking the political and commercial payment risks of international trade transactions carried out by banks in the countries of operations.